§ 159G-24. Fee imposed on a loan or grant from Wastewater Reserve or Drinking Water Reserve.
§ 159G‑24. Fee imposed on a loan or grant fromWastewater Reserve or Drinking Water Reserve.
(a) Amount. A loan awarded from the Wastewater Reserve or theDrinking Water Reserve is subject to a fee of two and one‑half percent (2½%) of the loan. A grant awarded from the Wastewater Reserve or the DrinkingWater Reserve is subject to a fee of one and one‑half percent (1 ½%) ofthe grant. The fee is payable when a loan or grant is awarded.
(b) Departmental Receipt. The fee on a loan from theWastewater Reserve or the Drinking Water Reserve is a departmental receipt andmust be applied to the Department's and the Local Government Commission's costsin administering loans from these Reserves. The Department and the LocalGovernment Commission must determine how to allocate the fee receipts betweentheir agencies. The fee on a grant from the Wastewater Reserve or the DrinkingWater Reserve is a departmental receipt of the Department and must be appliedto the Department's costs in administering grants from these Reserves. (2005‑454, s. 3.)